New Europe Property Investments plc (NEPI), has announced that it has agreed to buy the retail complex Serdika Center in the Bulgarian capital city of Sofia from Einkaufs Center Sofia GmbH & Co.KG and CEE Property-Investment Immobilione GmbH.
Through its subsidiary NEPI PROJECT ONE EOOD, the company also purchased the Class A office building Serdika Office.
The transaction, which includes both properties and the land on which they are built, is worth EUR 207.4 million and is subject to the approval of the Bulgarian competition authority.
Serdika Center is a modern shopping mall with a strong fashion oriented tenant mix, targeting a customer group with above average income, which, together with its excellent location (about 3 km southeast of the city centre), represent its competitive advantage.
The catchment area of 379,000 inhabitants within 15 minutes includes residential districts with excellent transportation links.
The centre opened in 2010, has a gross lettable area (GLA ) of 51,468 sqm and is 99.3 percent let.